Chapter 3.7 - Types of Costs -Theory of Costs - Theory of Production and Costs - CA Foundation

This video explains the various following cost concepts :
Cost function
Accounting cost & Economic costs
Explicit costs & Implicit costs
Outlay costs & Opportunity costs
Direct / Traceable costs & Indirect / Non - Traceable costs
Incremental costs & Sunk costs
Historical costs & Replacement costs
Private costs & Social costs
Fixed costs & Variable costs

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